VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 9, 2026

Stock Comparison

Symrise AG vs Watsco, Inc.

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

Symrise AG

SY1 · Xetra

Market cap (USD)$9.5B
Gross margin (TTM)40.3%
Operating margin (TTM)0.7%
Net margin (TTM)10.2%
SectorMaterials
IndustryChemicals - Specialty
CountryDE
Data as of2025-12-29
Moat score
69/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Symrise AG's moat claims, evidence, and risks.

View SY1 analysis

Watsco, Inc.

WSO · New York Stock Exchange

Market cap (USD)$14.4B
Gross margin (TTM)28.3%
Operating margin (TTM)10.2%
Net margin (TTM)7.4%
SectorIndustrials
IndustryIndustrial - Distribution
CountryUS
Data as of2026-01-05
Moat score
72/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Watsco, Inc.'s moat claims, evidence, and risks.

View WSO analysis

Comparison highlights

  • Moat score gap: Watsco, Inc. leads (72 / 100 vs 69 / 100 for Symrise AG).
  • Segment focus: Symrise AG has 2 segments (61.8% in Taste, Nutrition & Health); Watsco, Inc. has 1 segment (100% in HVAC/R Distribution).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: Symrise AG has 5 moat types across 3 domains; Watsco, Inc. has 4 across 3.

Primary market context

Symrise AG

Taste, Nutrition & Health

Market

Food & beverage flavor ingredients and pet food ingredients

Geography

Global

Customer

B2B (food & beverage, pet food, aquafeed manufacturers)

Role

Ingredient/formulation supplier

Revenue share

61.8%

Watsco, Inc.

HVAC/R Distribution

Market

HVAC/R equipment, parts and supplies distribution

Geography

North America (U.S., Canada, Mexico, Puerto Rico; export to Latin America/Caribbean)

Customer

Licensed HVAC and refrigeration contractors (residential & commercial)

Role

Wholesale distributor

Revenue share

100%

Side-by-side metrics

Symrise AG
Watsco, Inc.
Ticker / Exchange
SY1 - Xetra
WSO - New York Stock Exchange
Market cap (USD)
$9.5B
$14.4B
Gross margin (TTM)
40.3%
28.3%
Operating margin (TTM)
0.7%
10.2%
Net margin (TTM)
10.2%
7.4%
Sector
Materials
Industrials
Industry
Chemicals - Specialty
Industrial - Distribution
HQ country
DE
US
Primary segment
Taste, Nutrition & Health
HVAC/R Distribution
Market structure
Oligopoly
Competitive
Market share
12%-16% (implied)
9%-12% (implied)
HHI estimate
958
n/a
Pricing power
Moderate
Moderate
Moat score
69 / 100
72 / 100
Moat domains
Demand, Supply, Legal
Supply, Legal, Demand
Last update
2025-12-29
2026-01-05

Moat coverage

Shared moat types

No overlap yet.

Symrise AG strengths

Design In QualificationPreferential Input AccessScope EconomiesIP Choke PointCapex Knowhow Scale

Watsco, Inc. strengths

Physical Network DensityContractual ExclusivityScale Economies Unit CostData Workflow Lockin

Segment mix

Symrise AG segments

Full profile >

Taste, Nutrition & Health

Oligopoly

61.8%

Scent & Care

Oligopoly

38.2%

Watsco, Inc. segments

Full profile >

HVAC/R Distribution

Competitive

100%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

View the moat stocks list

Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

View expansion-stage stocks

Curation & Accuracy

This directory blends AI‑assisted discovery with human curation. Entries are reviewed, edited, and organized with the goal of expanding coverage and sharpening quality over time. Your feedback helps steer improvements (because no single human can capture everything all at once).

Details change. Pricing, features, and availability may be incomplete or out of date. Treat listings as a starting point and verify on the provider’s site before making decisions. If you spot an error or a gap, send a quick note and I’ll adjust.